Fund Directions - Here Comes Fund Governance -- Again

Here Comes Fund Governance -- Again

Daniel Akaka A member of the Senate Banking Committee is moving to resurrect the issue of fund governance just as Congress is reaching the point of making decisions on how to shape the financial regulatory structure. Sen. Daniel Akaka (D-Hawaii) is making his third try at passing fund governance legislation. But this time Akaka has the backing of the AFL-CIO--the largest federation of unions in the United States--and has put this issue back in play during a time of broad reforms in the financial industry and with a more heavily Democratic Congress.

The Akaka bill would push beyond merely mandating that fund boards must be 75% independent and ...

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Here Comes Fund Governance -- Again